The new floating Egyptian pound is likely to slow markets in the near term as traders and end-users adjust... Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Egypt The biggest news in the MENA region this week is the Egyptian government’s action in floating the Egyptian pound (EGP). The EGP/USD seems to have settled between 15.5-16/1 which is an amazing change from the near 9/1 rate last week. The government’s first move put the EGP/USD rate at 13/1 but with the black market rate closer to 18/1 the government’s initial action did not hold and the EGP was allowed to float. One suspects the only people happy with the floating pound will be the IMF, which had been pushing for significant financial change before finalizing the pending U...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.